A total of 26,413 sq.m was leased during the final three months of 2020, bringing full-year take-up to 161,538 sq.m, a 48% decline on the 2019 total. After a bumper Q1, office leasing activity fell to the low est level on record during Q2 as the full impact of the lockdown was felt. Encour agingly, however, take-up has been in creasing steadily each quarter since then with a number of large deals in progress as we move into 2021.

The largest letting of the year saw Mas tercard agree to lease 23,148 sq.m at One and Two South County, Sandyford, Dub lin 18, in a deal negotiated by BNP Pari bas Real Estate. Overall, the TMT sector was again the top performer, accounting for 72% of total take-up across 31 deals. This includes lettings to Microsoft and Amazon in the last six months, with both clearly in expansion mode and committed to the Dublin office market longer-term despite the pandemic.